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 Marvel: Future Fight  developer Netmarble seeking $2.4B through IPO

Marvel: Future Fight developer Netmarble seeking $2.4B through IPO

March 20, 2017 | By Chris Kerr

South Korean mobile game juggernaut Netmarble is aiming to raise around $2.4 billion through an upcoming initial public offering (IPO).

As reported by Bloomberg, the Marvel: Future Fight developer plans to sell 17 million shares at prices ranging from 121,000 won ($108) to 157,000 won ($140). 

Those price points will be finalized next month on April 24, but at the top end the IPO would see the company valued at roughly 13.3 trillion won ($11.9 billion). 

Some of the money raised, around 1 trillion won ($897.1 million), will be spent on further deals and investment, while a further 897 billion won ($804.7 million) will be used to pay off some of the studio's debt.

Looking to the future, most of Netmarble's recent purchases suggest the company is keen to secure a foothold in the west.

Back in December, Netmarble splashed out a reported $800 million on the Kabam-owned Vancouver studio behind Marvel Contest of Champions.

It also picked up the customer support crew from Kabam's Austin office, and some of the business development, marketing and user acquisition teams from its San Francisco branch. 

Prior to that, the Korean firm invested $130 million in U.S. mobile developer SGN, creator of casual titles like Juice Jam and Panda Pop.

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